Quiz festive sales boosted by occasionwear demand, despite online number falling

Omnichannel fashion retailer Quiz has seen profits surge after increased customer demand for occasionwear during the festive period.

The retailer grew its total sales by 11% to £9.8m in the month of December, in the first Christmas for three years not impacted by lockdown restrictions.

The uplift in occasionwear helped offset slightly weaker than expected sales in the weeks prior to the period and contributed to a 3% increase in revenues in the three months to 31 December 2022.

The strong trading period meant that Quiz’s group revenues rose by 23% in the nine months to 31 December to £75.2 million. 

Quiz added that sales growth in the period was driven by a 19% increase in revenues generated across Quiz’s UK store and concession portfolio.

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However, online revenue decreased by 14% to £1.8m following a decline in sales through third-party websites, although sales through Quiz’s own online offering were consistent with the previous year

According to Quiz, the ecommerce decline was anticipated and in-line with the Group’s strategic focus on growing sales through its own website.

International revenues, comprising five stores and 18 concessions in Ireland, as well as international franchise partners, grew by 20% to £1.8 million in the period.  

“We are pleased with the strong consumer demand for QUIZ and the Group’s sales performance during the important Christmas trading period,” Quiz chief executive officer Tarak Ramzan said.

“This again reflected the benefits of our omnichannel model as well as the QUIZ brand’s outstanding reputation for delivering glamorous occasionwear as great value.

“Whilst the wider trading environment is expected to be challenging over the coming months, we are confident that QUIZ is well positioned to deliver a performance at least in line with the Board’s expectations in the current financial year.”



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